Technology has become a mainstay for legal and compliance review, making it possible for organizations today to review and analyze thousands, even millions, of hard copy and electronic documents to uncover crucial information.
But just as the power of technology to aid in document review has grown in recent years, so too have the associated costs. To combat what can easily become major document-review expenses, you should have a solid strategy in place — before, during and after the eDiscovery process.
1) Clarify the end game
It may seem obvious, but you’d be surprised how often document review processes escalate costs due to a lack of clarity or consensus around the desired end game.
To be successful, you need a thorough, shared understanding of the exact goals you are working to achieve. You must “start with the end in mind,” as Stephen Covey famously wrote.
2) Create a strategy
Have a strategy in place that not only reflects your specific needs and data, but also positions you to meet your unique goals. Think carefully about whether or not to leverage a managed services provider — whether that means simply outsourcing infrastructure and customized support services based on your needs, or taking a fully managed services approach.
For most organizations today, outsourcing some processes as part of a managed services model increasingly makes sense.
3) Consolidate Case Data
Gathering too much data can be overwhelming and cost prohibitive. On the other hand, not gathering enough data — or not securing the right kind of data — carries its own risks.
The good news is that new technologies can significantly expedite and effectively target your document review process. Through the application of powerful, proprietary analytics, you can narrow down the document population to the most relevant information.
Recent advances in machine learning have also made it possible to use technology to identify compliance-related issues and minimize the potential for human error.
4) Improve review processes
High-volume, speedy turnaround is essential for controlling the costs inherent in the eDiscovery process. But you can also save time and money by identifying and implementing repeatable workflows that can be leveraged for similar types of projects.
For instance, hosted review services with cutting-edge analytics features and visualization tools can lead to faster decision-making. In addition, unified cross-platform reporting metrics can help you make simpler and more accurate “apples-to-apples” comparisons across projects.
5) Choose the right partner
There are many factors to consider when selecting a managed services provider. It’s important to combine the right people, including highly experienced, best-in-class project managers, with the latest technologies –– and underpin it with streamlined processes.
When you do that, the results can deliver:
- Greater budget predictability and cost management
- Better efficiency and defensibility
- Improved scalability
- Higher levels of security
- Access to advanced technology
Perhaps most importantly, when you choose the right partner, you’ll get more time back to focus on your core business (and who doesn’t need that?).